A federal judge has ruled President Donald Trump's attempt to fire Federal Reserve Governor Lisa Cook is illegal, and ordered her reinstatement.

The Supreme Court is likely to have the final say on whether President Donald Trump has legal cause to remove Lisa Cook from the Federal Reserve.

The ruling, which will almost certainly be appealed, is a blow to the Trump administration’s efforts to assert more control over the traditionally independent Federal Reserve.

U.S. District Judge Jia Cobb's ruling does not settle the key issue of whether the Trump administration's claims that Cook committed mortgage fraud.

Agency governor is legally challenging Trump after he sought to remove her, citing unconfirmed mortgage fraud allegations

The judge's ruling is a win for the US Federal Reserve following criticism by the president.

A federal judge has ruled President Donald Trump's attempt to fire Federal Reserve Governor Lisa Cook is illegal, and ordered her reinstatement.

The case has ramifications for the Federal Reserve’s ability to set interest rates without regard to political wishes.